Newsletter

Business briefs

NEW YORK

The federal government is cracking down on “robocalls,” those automated phone calls with the tendency to interrupt Sunday dinners and otherwise annoy consumers.

The Federal Communications Commission said Wednesday it will now require telemarketers to obtain written consent from people before placing a robocall. Written does not mean handwritten, though — electronic forms are OK.

The new rules also eliminate a loophole that allowed telemarketers to place robocalls if they had an “established business relationship” with the consumer. Now, they will have to obtain consent even if they had previously done business with the person they want to call.

NEW YORK

Kellogg is hoping Pringles will satisfy its craving for a salty snack.

The food giant is best known for its lineup of sweet breakfast items, including Frosted Flakes and Eggo frozen waffles. On Wednesday it became the world’s second-biggest savory snack maker behind PepsiCo Inc.’s Frito-Lay with a $2.7 billion deal to buy the potato snack brand from Procter & Gamble.

The addition of Pringles bolsters Kellogg Co.’s cupboard of salty snacks like Cheez-It and Keebler’s Club crackers. It also positions the company to expand at a time when the appetite for on-the-go foods is growing worldwide, particularly in emerging markets like China and India.

WASHINGTON

The Federal Reserve isn’t about to launch another bond-buying program to boost the economy — at least not anytime soon.

While some Fed officials are open to such a move, according to minutes of the Fed’s Jan. 24-25 policy-setting meeting, others believe the economy — which has come to life lately — would need to weaken before taking such action.

The debate took place at a meeting in which the Fed decided to hold its benchmark interest rate at record lows until at least late 2014. One Fed official argued the central bank might need to consider abandoning that plan to keep inflation low.

WASHINGTON

World Bank President Robert Zoellick said Wednesday he is stepping down, raising the possibility that a non-American might be chosen for the first time to head the 187-nation lending organization.

Zoellick, 58, informed the board he will leave June 30 at the end of a five-year term, during which he led the bank’s response to the global financial crisis.

The board now begins looking for a new president under guidelines directors adopted in 2011 calling for an “open, merit-based and transparent selection” process.

WASHINGTON

Foreign demand for U.S. Treasury debt fell slightly in December after hitting a record high the previous month. A key reason for the drop was that China, the largest holder of Treasury debt, cut its purchases for a third straight month.

Total foreign holdings dipped 0.4 percent in December to $4.73 trillion, the Treasury Department reported Wednesday. It was the first drop in foreign holdings of Treasury debt since July.